U.S. water utilities to invest $8.3 billion in IoT in next decade
According to a recent survey, 80% of respondents said they are already investing or looking to invest in smart water infrastructure
U.S. water utilities expect to invest $8.3 billion in smart infrastructure over the next ten years, according to a study of Washington, DC-based smart infrastructure market intelligence firm Northeast Group.
According to the study, municipal water infrastructure in the country is aging and in need of significant modernization. The report also highlighted that many water utilities have little data on their distribution network operations and still rely on manual meter reading for billing.
“Our survey results show that water infrastructure in the U.S is modernizing, but utilities still have not taken full advantage of the technology they have available to them to improve operations and maximize efficiency,” said Ben Gardner, president of Northeast Group. “Smart metering and other sensors with two-way communications can help a sector in great need of modernization. These investments will grow, especially as cities look to integrate water infrastructure with broader smart city and internet of things (IoT) initiatives.”
Northeast Group conducted a survey of 340 water utilities across all 50 states in the country. The survey revealed that more than 80% of respondents were either already investing or looking to invest in smart water infrastructure to improve their operations.
The survey also showed that the leading drivers of this investment in smart water infrastructure were operational efficiency, general modernization of infrastructure and the reduction of non-revenue water (NRW).
Northeast Group said that there are a number of smart water infrastructure vendors active in the U.S market. These include ABB, Aclara, Badger Meter, Honeywell, i2O, Itron, Kamstrup, Master Meter, Metron Farnier, Mueller, Neptune, Schneider, Sensus, Suez, Zenner and others. Additionally, vendors such as TaKaDu, Trimple, Valor Water Analytics and several others are expanding in the developing market for water software and analytics, the company added.